Technavio analyzes that the Amorphous Metal Cores Market is expected to grow at a CAGR of 7.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 353.14 thousand.There are various factors that contribute to the growth of the market. Amorphous metal cores have gained significant attention in the power and energy sector due to their superior magnetic properties. Investments in power and energy infrastructure have led to an increased demand for these cores in the production of transformers and generators. Amorphous metal cores offer enhanced efficiency, longer lifespan, and reduced energy losses, making them a cost-effective solution for power generation and distribution systems. These factors are driving the growth of the amorphous metal cores market in the power and energy sector.
Amorphous metal cores, fabricated from metallic glass, a non-crystal substance, are gaining significant traction in the electrical and electronic industries due to their unique magnetic properties. These cores, which are primarily used in transformers for renewable energy systems such as solar and wind power, offer several advantages. Their rapidly freezing nature reduces hysteresis loss during magnetic induction, leading to improved energy efficiency in power distribution. The global transition towards renewable energy and the implementation of smart grids have intensified the demand for these cores, as they play a pivotal role in enhancing the performance and reducing losses in distribution transformers, thereby contributing to the overall efficiency and sustainability of power systems.
Know which region is leading the market growth by requesting a sample report
Amorphous Metal Cores Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
Find out what is trending in the market by accessing the free PDF report
Amorphous metal cores, made from amorphous alloys, offer enhanced magnetic properties in electrical transformers, reducing energy costs and CO2 emissions. Iron cores are being replaced with these non-crystalline substances due to their rapid cooling during production, resulting in ultra-low hysteresis loss and eddy current loss. In power transmission, energy-efficient solutions like advanced electrical transformers and distribution transformers minimize electricity loss. With a non-crystalline structure, amorphous metal cores are thinner than silicon steel, decreasing no load loss and contributing to the dimensions of electrical machineries. As part of the power infrastructure, these cores are applied in transformer applications, including renewable energy systems, smart grids, electric cars, and electrical equipment. By utilizing amorphous metal, energy-efficient products decrease magnetic induction losses and contribute to a smaller carbon footprint.
The Amorphous Metal Cores market is a segment of the larger electrical components and equipment industry. This sector encompasses businesses specializing in the production of amorphous alloy iron cores for transformers. The global electrical components and equipment market, as calculated by Technavio, includes the revenues of manufacturers in various sectors such as water heaters and accessories, motors, electrical distribution and protection equipment, and power transmission components, among others. Additionally, the market size considers rental and leasing of electrical components and equipment to industrial, commercial, and residential consumers. Energy efficiency, energy costs, CO2 emissions, and power transmission are key factors influencing the growth of energy-efficient products, including those utilizing amorphous metal cores in transformers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
